Bank Tells U.S. Supreme Court Chapter 11 Collateral Sale Must Allow Bidding

WASHINGTON, D.C. - A creditor bank argues that the Bankruptcy Code precludes confirmation of a hotel chain's Chapter 11 plan that proposes to sell collateral free and clear of liens without allowing the bank to credit bid, according to the bank's brief that the U.S. Supreme Court posted to the docket March 8 (RadLAX Gateway Hotel LLC v. Amalgamated Bank, No. 11-166, Chapter 11, U.S. Sup.).
Find full version on lexis Advance®